The massive market transformation this month that some on Wall Street called a "once in a decade opportunity" might have just been a one-off technical move because of taxes.Marketsread more
The Pentagon will deploy U.S. forces to the Middle East on the heels of the attack on Saudi Arabian oil facilities, United States Secretary of Defense Mark Esper announced...Defenseread more
CNBC did a deep dive through the most recent Wall Street research to find stocks that analysts say are underappreciated.Marketsread more
Shares of MasterCard are up 46% this year, and 1120% since 2011, getting a boost from the strong U.S. consumer.Investingread more
CNBC sat in on an "empathy training" at Amazon PillPack's Somerville offices, which is part of new hire orientation.Technologyread more
Trade with China is the 'big unknown' for the Federal Reserve as it decides how best to support the U.S. economy, says Council on Foreign Relations Director of International...Futures Nowread more
Lobbying experts said the visit is likely an attempt to be in lawmakers' ears as they consider legislation that would impact Facebook.Technologyread more
Yardeni Research's Edward Yardeni believes the U.S. economy is picking up steam.Trading Nationread more
Iran's audacious drone and cruise missile attack on Saudi Arabia's oil producing facilities has provided a critical test yet for the Trump administration's foreign policy. A...Politicsread more
Chinese trade negotiators suddenly canceled a visit to meet U.S. farmers after they wrapped up trade talks in Washington this week.Marketsread more
Federal Reserve Chairman Jerome Powell's tone after this week's monetary policy meeting signals he's trying to break the market's "co-dependence" on the central bank, economist Mohamed El-Erian told CNBC on Friday.
Stocks sank Wednesday and Thursday following the Fed's latest interest rate hike and Powell's news conference.
El-Erian, chief economic advisor at Allianz, speculated Friday that Powell would probably react to the latest sell-off by saying: "It's about time the markets stand on their own feet."
The stock market initially rose Wednesday after the Fed raised its benchmark interest rate a quarter point, as expected, and lowered its rate hike projections for 2019 from three to two. But Wall Street plunged shortly after Powell's comments during his news conference suggested that the central bank would not slow its pace of hikes as quickly as some had hoped.
The market rout that continued into Thursday saw the Dow Jones Industrial Average close down 470 points. The Dow and S&P 500 fell further into correction territory. The Nasdaq briefly dipped into a bear market. (A correction is defined as a decline in an asset or index of 10 percent or more from recent highs; a bear market is measured by a drop of 20 percent or more from recent highs.)
The Dow, S&P 500, and Nasdaq were on track for their worst week in nine months and their worst yearly performance since the financial crisis year of 2008. However, U.S stocks opened Friday's session slightly higher.
Powell could have eased some market fears by saying "nothing is off the table" concerning rate hikes and shrinking the balance sheet, El-Erian said, while warning that "bad market technicals" could become "bad economic technicals" if Washington isn't careful.
El-Erian, formerly CEO of investment giant Pimco, appeared on CNBC ahead of New York Fed President John Williams telling Friday that the central bank rate hikes next year. Stocks surged during the Williams' interview but then faded.